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the markets from foreign capitol and from jack lew as treasury nominee. u.s. economics editor for "the economist," and senior economics reporter steve leaseman. steve, first to you. what are the markets saying? what is jack lew's reputation in wall street and what do you see coming forward with debt negotiations? >> i think this appointment is being taken advisedly in the sense that it's a kind of wait and see. you know, from my perspective, having covered more or less -- more or less degrees, seven of the past treasury secretaries, jack lew does come to the table with a bio that perhaps has less independence in it than any treasury secretary i can remember. robert rubin, hailing from goldman sachs, salary summers was a renowned economist. paul o'neil from alcoa. there's nothing on lew's resume that suggests any measure of independence. markets want a little bit of independence from their treasury secretary. that said, if jack lew's appointment can, in fact, result in some kind of longer term budget deal affixed to entitlements, tax reform, corporate and individual that i think markets
treasury secretary. big job. he want jack lew to replace timothy geithner. lew has been a budget director for president obama and former president clinton. he also has experience with banks. the former chief operating officer for city groi group. he has a wife and two children. ali, good to see you, my friend. lew is considered a budget whiz as we were discussing yesterday. >> yeah. >> a seclude negotiator if you like. quality that will come in handy when he takes on the negotiations with congress on the debt, reining in spending. tell us what you know about his negotiating style. >> i'll tell you, the one problem is that the white house in general has not been seen as the most successful group of negotiator. being the chief of staff to president obama might be seen as a bit partisan for the job. let me tell you, four years ago, michael, the world was in a financial crisis, it all circulated around banks and credit and central banks. timothy geithner was the guy for the job. head of the federal reserve. he was in the room when they decided to let lehman brothers fail. he knew what was goi
obama will announce jack lew as his nominee for secretary of treasurer. he staffers believe it will be approved. analyst say the president's pick is a sign he will move forward with planned economic reforms and do so aggressively. mr. lew served as coo of nyu and worked at citigroup and served as white house office of management and budget chief and is currently white house chief of staff. apparently job one will be to work with congress to raise the borrowing limit and prevent default that could come as soon as next month. the announcement is at 1:30 p.m. eastern time. stay with "power lunch." we will take you inside the white house for all the details. ty, back to you. >> very interesting. now, of course, another major event at the wlohite house. taking place right now. vice president biden's task force making a change in the way americans buy, sell and potentially use firearms. eamon javers live at the white house. eamon? >> there are some that biden himself might not participate in. we just heard from the vice prest as he emerged from his first meeting of the day and he
." >>> loyal lew. the president flushing out the second term cabinet today promoting the chief of staff jack lew to run the treasury. >> so for all of the talk out there about deficit reduction, making sure our books are balanced, this is the guy who did it. three times. over the past year, i have sought jack's advice on virtually every decision from economic policy to foreign policy. >> it signals a shift in white house priorities. if confirmed, lew replaces tim geithner whose background helped him navigate the financial vie sis and new wall street regulations and lew spent three years working with wall street the background is in budget fights and matches washington's new focus. lew was an aide to tip o'neill in the '80s helping score the social security deal with president reagan, led the budget office under president clinton and obama and helping not only to balance the budget in the '90s but generate a surplus. two years ago, he helped negotiate the budget control act. politico puts it this way. tim geithner was a banking man tapped to handle a banking crisis. jack lew is a budget guy b
to handle a banking crisis. jack lew is a budget guy being brought in to handle the government's fiscal disaster. on the hill, a handful of republicans oppose lew's confirmation but survived the process twice in four years at omb director and deputy secretary of state. we have jake sherman here. we're hearing yet another white man added to a cabinet with quite a few white men and dwindling number of females s. the president and the team feeling president to add some more diverse faces to the team? >> they released a photo showing that president obama does, in fact, have female advisers in the inner circle and more opportunities yesterday. solis said she was stepping down from the labor department which she ran since the beginning of the administration. transportation is a role that they've been wishy-washy on whether ray la hood would say and more opportunities. susan rice is still around but a pr disaster for the white house. on the front page of "new york times," not something you want to do as trying to get your second term rolling and get a head start in to a year full of budget fig
? >> not that i'm aware of. >> that is jack lew, the president's nominee for treasury secretary. what we know about him besides that weird looking signature? >>> and does president obama need a binderful of women or is that overblown? tweet me @thomasroberts. when what you just bought, just broke. or when you have a little trouble a long way from home... as an american express cardmember you can expect some help. but what you might not expect, is you can get all this with a prepaid card. spends like cash. feels like membership. that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they help save you up to thousands in out-of-pocket costs. call today to request a free decision guide. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. joi
addition to the cabinet, later today, the president nominate jack lew to be the next secretary of the treasury. the president plans a big fight over the budget. lew is the fourth man picked from the budget. hilda solis is an hispanic female elevating the debate over a black president and in her circle. >> this president has made two appointments to the supreme court. both of them women. and i think that this commitment to -- >> is that -- >> well, i think the record speaks for itself. >> for this president with his particular history and also given all the campaign rhetoric about diversity, with every administration, regardless of which administration it is, we hope that we have the more diverse cabinet, that, again, reflects america. >> it's a guy's club. he has guys, you know, they go golfing with him. these got guys playing basketball with him. women have complained quietly about being excluded at the white house since 2009. >> we're talking about a couple of cabinet positions that are being filled. and why don't you name -- and it's not just gender. but it's the exact momen
house chief of staff jack lew as his next secretary of the treasury. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour" tonight, we have more on the man and the economic agenda he has been tapped to spearhead for the next four years. >> brown: then, ray suarez gets an update on a series of bombings that killed more than 100 people in two pakistani cities today. >> woodruff: margaret warner looks into new federal guidelines for mortgage lending aimed at protecting both consumers and lenders. >> brown: we look at the tense political situation in venezuela, after the national assembly delayed the inauguration of cancer-stricken president hugo chavez. >> this is essentially a power play. behind that secrecy there is nothing but an attempt to ensure the continuity of the regime regardless of president chavez's presence. >> woodruff: and with five oscar nominations, we examine the controversy surrounding one of the most talked about new films yet to see a nationwide release; "zero dark thirty," about the hunt for osama bin laden. >> brown: that's all ahe
secretary of the treasury, jack lew, the man he made his chief of staff, a year ago yesterday. lew would succeed tim geithner, who drew fulsome praise from the president. >> when the history books are written tim geithner's going to go down as one of our finest secretaries of the treasury. our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot of credit for that. >> brown: at 57, lew is already a 30-year veteran of washington. he was a principal domestic policy advisor to house speaker tip o'neill in the 1980's, and negotiated with the reagan white house on social security and tax reform. later, he served two stints as the country's budget director, first under president clinton, then under president obama, before becoming white house chief of staff. today, in the east room of the white house, the nominee voiced his gratitude. >> thank you mr. president for your trust confidence and friendship. serving in your administration has allowed me to live out those values my parents
signature. this is jack lew. all signs point to president obama say i knowing him to replace tim geithner. and if he is nominated and confirmed, that will mean that our money might end up looking like this. because that is jack lew's signature on it. if he doesn't choose to tune up the legibility of the loop de loops like tim geithner did, our money mite look like this. what "new york" magazine described as a slinky that has lost its spring, republicans in washington are hinting that we won't actually have to worry about seeing jack lew's wacky signature on our money. they're saying he doesn't have to worry about changing the signature to it looks good on the money because he, jack lew, will never be the guy who has to actually sign the money. he will never be treasury secretary. politico.com today to be, quote, scoffing at the notion of jack lew as treasury secretary. mitch mcconnell is said to have been irked by mr. lew in the past. republican senator from nebraska, mike johanns called lew a controversial pick. the reasonable he is controversial is, quote, i think there are nick policie
: the president will be nominating the chief of staff jack lew as next treasury secretary. should we be gearing up for another confirmation battle? rich edson at the white house with the latest on this story. what do you think? rich: we very well could be. he refuses to address entitlements in spending. he is the typical big government liberal and a troubled person to deal with in his capacity as chief of staff for the white house but democrats point out he knows budgets. he has been a budget director for the clinton administration, obama administration and they say that is why they picked him. >> in the past quarter of a century jack lew has been an integral part of some of the most important budgetary financial and fiscal agreements, bipartisan agreement in washington. >> "rolling stone magazine" will have to come to the senate and tell what his thoughts are about the spending and how it plans to address it. rich: it is u up to send them to see this another proxy fight to add to the administration on their views about that deficit and spending. back to you. melissa: i have to wonder how his sena
treasury secretary. jack lew is a veteran of capitol hill and of more than one big major budget negotiations which is exactly what the president is facing right now. he's somebody with a low key demeanor who gets along well with others. his confirmation is expected to be not too difficult. what he doesn't provide is a strong business background or wall street ties, although he did work for citigroup for a while and he doesn't have the experience in financial regulation that tim geithner brought to the job having head of the federal reserve bank of new york during the financial crisis. but jack lew is expected to be announced today. the pecked speculation about his replacement as white house chief of staff has centered in the last 24 hours around dennis mcdonna. sources tell me that dennis mcdonough is the chief candidate. ron biden has already been a contender. wool see whether the president pairs the announcement of a new chief of staff with jack lew's appointment today. >> so jack lew seems to have the nomination locked up. danny krugman is expected to be looked go ahead at fo
will nominate his chief of staff jack lew as the next treasury secretary a little more than two hours from now. connell: joining us now is from the "wall street journal." >> he will be directing economic policy for the president and he's a long-time washington insider. he worked for tip o'neil. he worked for bill clinton. he's worked on the budget for president obama. [talking over each other] >> there is a revolving door there. he did go in 09 and he came out with a lot of money despite the fact that citi bank was limping along and had to be helped out by the government. dagen: when he worked just as one example in the clinton administration he was considered reasonable but not now. why? >> i think the big part of it is how he performed when he worked for president obama in the first term. but it's also i think most people expect him to be very much like an alter ego of the president. he subscribes to the ideas that the president has, that the big problem in this country is not how to create wealth, but how to redistribute it. that's really our challenge. just have to figure out how to get th
'm chortling here because of your outrage over the $1 trillion coin matched with your outrage over jack lew, i can't figure out which is mor amusing. should we put that in the democratic party platform? >> it already is, that's what's amusing. >> very good, very good. >> let's talk about jack lew for a second. normally this position should go to somebody from the finance world. i think that, unfortunately, that's very difficult to do that because the finance world had a lot to do with the crash in 2008. but normally those are the best people for this job. for treasury. and if you look at george w. bush, his first two people were quite able, especially paul o'neill, but they did not, were not able to do the treasury the way paulson did, which helped us get out of this dreadful problem that we had that started in 2008. so it is good to have a finance person. on the other hand, i believe you're wrong about omb. jack lew's been a terrific director of omb and most importantly, he absolutely does have a lot of foreign policy experience. when you're the chief of staff to the president of the united s
, the president nominated the current white house chief of staff jack lew to replace timothy geithner. >> jack has my complete trust. i know i'm not alone in that. in the words of one former senator, having lew on your team is the equivalent of a coach of having the luxury of putting somebody at almost any position and knowing he will do well. >> joining me is john harwood, a lot of nice compliments for mr. lew. we do we anticipate any trouble? we have heard one or two republicans expressing unhappiness with the selection. >> reporter: well, i just got a tweet from his former spokesman at omb which said that jack lew before the full senate for confirmation five times. not a single no vote so far. i would not expect that to be the case this time but i don't think there's a serious threat to the nomination. jack lew is confident, self effacing. he is easy to get along with. yes, a tough negotiator. some republicans didn't like that. yes, some republicans don't like president obama's economic policies. fair enough. that's not much of a reason to vote against him. i wouldn't expect much opposition. >>
some on capitol hill. correspondent shannon bream on the nomination of jack lew. >> i cannot think of a better person to continue tim's work at treasury than jack lew. >> reporter: president obama nominating a new man to head the treasury department but signaling plans to continue with the fiscal policy the administration relied on in the first term. white house says lew has a keen understanding of domestic and international issues that impact the u.s. economy and point to the track record. >> under president clinton he presided over three budget surpluses in a row. with the talk of deficit reduction, making sure the boog are balanced this is the guy who did it. three times. >> reporter: republican opponent, senator jeff sessions chief among them say jack lew is the wrong man for the job and without then house speaker newt gingrich refusing to allow more government spending the budget achievements would never have happened. sessions without qualification, accuses lew of lying to congress when testifying about the president's fiscal policy and plans. >> he is consistently and delibe
to kero television in taft for help covering the story. >> up next, jack lew treasury secretary. i don't think they're going to mint the twin dollar coin. if that do they will put a squiggly on top and squall -- call it a day. ÷÷ >> shepard: 14 minutes before the hour now on "studio b." the president nominating his current chief of staff, jack lew, to replace tim geithner. before jack lew joined the white house administration he served as the chief operating officer of citigroup's global wealth management and served as president bill clinton's budget director and crafted a bipartisan agreement that sparked budget surpluses. the president said the loss of jack lew as his chief of staff will be the country's gain. >> i trust his friendship, very few people with greater integrity than the man to my left. so i don't want to see him go because it's working out well for me to have him here in the white house. >> shepard: but he already had some strong opposition. especially from the top republican lawmaker, jack session, who said, jack lew must never be secretary of the treasury. we ha
at this, if jack lew is confirmed as treasury secretary, this will be the signature you see on the dollar bill. looks like a printing. "varney & company" is about to begin. joe doesn't know it yet, but he'll wk his way up from busser to waiter to chef before opening a restaurant specializing in fish and me from e great northwest. he'll start investing early, he'll find some good people to help guide him, nd he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ound shipping at fedex office. >> good morning, "varney & company" viewers, today is thursday, january the 10th. the big story of the day is guns, and just how the president will deal with the very strong calls for action. the public wants something done. how will
is what is "money" tonight. jack lew gets the nod for new treasury secretary. senator jeff sessions is outraged and vowing to block lew's senate confirmation. he will join us to explain why. >>> why this flu epidemic is making our economy sick. experts say we're looking at a possible $10 billion hit on the economy from the flu. that is what we need. details are coming up. >>> how much is an oscar really worth to a movie? the 2013 academy award nominees are out. studios dropped 10 of millions of dollars on their oscar campaigns. a top industry expert is here to crunch the numbers. even when they say it's not, it is always about money. melissa: we start today with another school shooting. it happened at taft union high school in california. one student was shot. the sheriff says they have one suspect in custody. makes the meetings on gun control today, on capitol hill even more urgent. the fact that vice president joe biden met with the nra and other gun rights activists on possible new federal regulation. at the same time attorney general eric holder was talking to retailers about so
ahead we'll have more on the president's cabinet reshuffle, including the nomination of jack lew to lead the treasury department. but, first, it is target tuesday. that's the day when vice president joe biden says he'll present his recommendations on preventing gun violence to the president. biden made the announcement as he met with hunting groups and gun advocates, including the nra. and he said a con shen sus is emerging over proposals such as expanding background checks and banning high-capacity magazines. >> you all know this is a complicated issue. there's no singular solution. but there's also things we know. we know that there are certain actions we take that have diminished, have diminished the extent of the gun violence that otherwise would be occurring in the united states. >> indeed. that violence is continuing apace even as mr. biden addressed the media. news broke of a high school shooting today in taft, california. a 16-year-old victim air lifted to a hospital, now in critical but table condition with the alleged shooter, another 16-year-old student, in custody. police say
to be treasury secretary. barack obama yesterday it leaked out he was going to nominate jack lew to run the treasury department. he hasn't made the official announcement but it looks like jack lew is going to take that over which means we're going to get a new signature on our flat money. because you know, the treasury secretary has a signature. bill is checking to see if he has timothy geithner's autograph there on his dollar bills. >> bill: yes. >> peter: he's got a nice, neat little signature. timothy geithner. there is a whole hubbub now over jack lew's signature. are you ready america? to see that on your flat money. if you can't see it is just a squiggly line of a signature. it looks like someone has had too much to drink and tried to draw a caterpillar. >> that's something that someone could forge very easily. >> peter: it looks kind of like a war shock test. there's jack lew's signature right there. tell me what you see. i see a butterfly. that will be very interesting to see that on your money. >> bill: but it should be noted before he came treasury secretary, timothy geithner
in washington. jack lew officially nominated as treasury chief. lew is known for his role in the being acrimonious talks in 2011. what could it mean this time. >> tiffany disappoints again with weaker holiday sales. there was weakness in the americas, strength in asia. so how much of a read through to the rest of retail is this earnings report? >>> nokia shares soaring this morning after a bullish outlook for the first quarter. >>> and herbal life's big day to defend itself against bill ackman's damning allegations. we'll have the latest and the ceo join us later in the show. >>> well, today president obama is set to nominate white house chief of staff jack lew as his next treasury secretary. succeeding tim geithner. lew has been budget director in both the obama and clinton administrations. he will pray a major role of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a forest hills guy like me that i, you know
'm interested in, for example, in the treasury secretary position, jack lew, you know, this is somebody who is a safe pair of hands. it's somebody who is not going to rock the boat, and i wonder if that doesn't represent kind of the hunkering down economically in a way kind of a saying, you know, we're not going to take on any new big topics. we're going to have to be battling the same -- >> you interpret that as hunkering because i think a lot of other people say -- and the "wall street journal" has plenty to say on this. team of liberal loyalists they write. "as budget director and chief of staff in the obama white house, mr. lew has been the president's most partisan and implaquable negotiator. he no doubt reflects mr. obama, but no one should think he'll emerge at his own in the treasury." >> i think you want pick garrett ginslerin. if you wanted to make big changes in jobs and investment, it would have been a more -- >> the first fight, though, is taking on congress, and that's -- >> that's a point of making. >> and one of the reasons they don't like him, so many republicans, that in 2
regulations later today. >>> president obama is picking jack lew as his next secretary treasury. he could face a tough confirmation battle. >> as a number cruncher, jack lew's resume is solid. and by all indications, he has proved himself again and again to the president. >> over the past more than quarter of a century jack lew has been an integral part of some of the most important budgetary, financial and fiscal agreements in washington. >> one agreement he may not want to take credit for though, is the now despised fiscal cliff. according to the washington post, lew was the architect of those threatening across the board spending cuts that drove congress to the brink. and some republicans say he hasn't been honest about debts and deficits. >> i would rate it as a bumpy confirmation process. the american people need to know the secretary of treasury will tell them the truth about the financial conditions of this country. >> democrats see lew as someone who will go toe to toe with republicans. >> even though he has attended some republicans by his behavior and the negotiations, the president
in washington. and that's a huge wildcard. lori: quick follow-up. jack lew, does he change things? obviously, we know he's in favor of big government, big spending, probably face a big fight for his confirmation. jack, do you think that changes anything for your markets outlook? >> it doesn't for me. i think the biggest change we're going to see right away is just new signatures on our currency. beyond that, you know, the treasury has at least under geithner in the second term here has really sort of backed away from center stage giving, handing the baton mostly to the fed. you know, whether lew takes a more activist role, he certainly is an obama loyalist, remains to be seen. i will say, you know, there's probably a little more contention in washington surrounding jack lew than there is, perhaps, on wall street right now. ashley: all right, jack. let me bring you in -- david, i'm sorry. jack, you had, we've heard from you. let's bring in david on where investors can make money in this market. what do can you like spa why? -- and why? >> sure. well, i'll make a comment on commodities. some peopl
daily run-down." >> president obama makes his pick for the top spot at treasury. is jack lew ready for a full-blown fight over the debt ceiling in his first month on the job? pocket change. you heard about this idea. the trillion dollar coin to handle the debt ceiling. well, today we will tell you where it all started and whether or not it is really something president obama might use. they won't rule it out important some reason. and back to the future. the gun debate of 1994 had many lessons for the fight unfolding today. what can president obama learn from president clinton's success? good morning from washington. thursday, january 10, 2013. this is "the daily run-down." i'm chuck todd. let's get to my first read of the morning. this afternoon president obama will formally name his chief of staff, jack lew, to replace treasury secretary tim geithner. a sign the white house expects a big fight over the federal budget lew is the safe pick. he has been confirmed twice by the senate before. just in this administration. if confirmed in time, he can face his first test next month over
learned you were speaking that honey boo-boo has just replaced jack lew as the newly named treasury secretary. key you posted on that insight. >>> mint a trillion dollar coin so congress can keep spending? i wasn't take this seriously nil heard this. >> a position on this trim dollar coin business? >> there is no plan b, there's no backup plan. >> a little evasive in your answer. are you -- trying to leave room or not? >> there's no substitute for congress extending the borrowing authority of the united states. >> this is an option, a viable -- >> i think the only option here, there is no backup plan. the only action is for congress to died job. >> will you rule it out. >> you can speculate about a lot of things. >> just rule it out. it's stupid. when the white house not ruling it out. add that to nancy pelosi who says the president could use a 14th amendment to hike the debt limit. >> i would do it in a second. but i'm not the president of the united states. >> neil: and your know honey boo-boo either. former colorado state treasurer says it's time to stop the schemes to start addr
. as we await the nomination of white house chief of staff jack lew to be the next treasury secretary the big announcement set for about two hours from now the spotlight now turning on mr. lew's signature. take a look, this is it. better get used to the loopy letters because they could show up on all of our paper money. outgoing treasury boss, jenna is cocking her head side ways to read it. jenna: i'm thinking all the different ways you could counterfeit that, right? jon: doesn't really say anything. treasury secretary boss tim geithner had to improve what his signature looked like. it was kind of scrawling too. in order to fit on the money he improved it. white house press secretary jay carney was asked about lew's hand writings and whether he is practicing his signature. koorney said, not that i'm aware of. jenna: you remember grade school where they give you lines to follow to practice your penmanship? jon: one would think. jenna: how is your penmanship? jon: i think it is readable, shows my name but my penmanship is pretty awful. jenna: we may need to do a close-up shot. jon: i do
as jack lew is somebody who served as chief of staff. he was budget director before that. he served in hillary clinton's state department. he does not have a deep background and ties to wall street and business. he's a creature of congress, made his name in washington working for tip o'neal, the house speaker. very hard working, very key, very bright. republicans found him a difficult negotiators in some of the budget talks over the last couple of years, but i would expect, andrew, that he's going to be confirmed pretty handily even though he'll have difficult questions in his confirmation hearing. >> john, how disappointed -- and perhaps now, but it appears that the business community seems disappointed, if you read "the wall street journal" editorial page today. there's a sense of disappointment that the president didn't pick somebody from the business community, somebody with more experience in the world of finance private sector as joe would say. >> i understand the disappointment because they want one of theirs. but, you know, president obama wants one of his in that job. when
expected to nominate white house chief of staff jack lew later today to be the next treasury of the secretary, but if lou is confirmed he might consider sharpening that signature which will pretty much be on all u.s. currency. here it is loopy and arguably unreadable. current treasury secretary tim geithner said he had a similar problem before he took over. here it is before he took the job. and here what it looks like now. he improved his penmanship to make it easier for folks to read. i can't argue. have you seen mine? martha: it deteriorates with every passing year. bill: jack lew that --. martha: well it is the worst flu outbreak in at least a decade and doing a number on people across the country. the virus is reported in 41 states with nine states reporting high or severe levels of flu. boston's mayor says his city is under siege. he is declaring a public health emergency. the state of massachusetts reporting 18 flu-related deaths so far. the hospitals can barely contain all the people pouring into them. >> we're seeing significant rates of hospitalization, much more se
personnel announcements, the president does. secondly, i would say that jack lew, who is the president's chief of staff, has been and continues to be an extremely valuable adviser to the president. >> that was press secretary day carney, punking the white house press corp, and not announcing that the president plans to announce jack lew to replace tim geithner. the president is expected to do that tomorrow. and hilda solis announced she will resign, while attorney general eric holder announced he will stay on for a second term. jay carney was asked this question about jack lew. >> working on a signature. >> the treasury secretary's signature, you see, appears on all reserve notes, dollar bills during his tenure. here is jack lew's signature, it really is. and here is what jack lew's signature would look like on a dollar bill. not everybody can have the style of john hancock. it was once said that the president had the handwriting that neared that of an illiterate. and of course, there is this, that signature? it may be more legible than jack lew, tim geithner's signature became the ver
all cited by president obama as he nominated his chief of staff, jack lew, to be the next treasury secretary but the announcement is drawing attention to the makeup of the president's second-term cabinet. it's on track to be dominated by men. our white house correspondent brianna keilar is joining us from the white house. what is the white house saying about all of this? >> reporter: wolf, the white house has been asked about this quite a bit. white house press secretary jay carney has said that the president believes diversity is important and he's highlighted that there are a number of women serving in the white house and in the administration and indeed there are, wolf, and there's lack of topics in his cabinet. president obama choose a trusted insider to replace timothy geithner as treasury secretary. >> under president clinton, he presided over three budget surpluses in a row. so for all of the talk out there about deficit reduction, making sure our books are balanced, this is the guy who did it three times. >> reporter: jack lew, obama's chief of staff and former budget direc
get away with it. >> the president's can natural takes place. jack lew will be nominated to replace tim geithner. >> and today a team of federal investigators are focusing on why a commuter ferry slammed into a manhattan peer. people were wounded, one critically. >> people were on the ground. >> there's been an explosion in greece claiming the car booming is related to the defense ministry. >> a dozen of killer whales are trapped under sea ice. >> oscar nominations are out, "lincoln" leading with 12. >> barry bonds, roger clemmen, sammy sosa all face accusations of steroid use shut out by the baseball hall of fame. >> off the window to himself! >> turning on the channel right now. >> they clearly don't know the contact. >> all of that matters. >> hillary clinton made the first public comments after off a month dealing with a concussion and blood clot. >> i'm thrilled to be back. >> the president hosted a screening of 1600 penn with send tars who keep embarrassing the white house. as joe biden put it, why is everything looking? >>> welcome to "cbs this mor
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